Bitcoin price dropped as low as $ 30,025 this afternoon, leading to the liquidation of a record number of long positions. According to Bybt data, the total value of positions that became liquid within 24 hours has exceeded $ 8 billion.
Bitcoin, which has lost up to 30% from yesterday to today, moved upward again after declining to $ 30,025. BTC / USD pair on Coinbsae, at the time of writing $ 34,078 is out.
3 billion dollars liquidity in 1 hour
The sudden decline in the crypto money market, in just 1 hour 3 billion dollars triggered the liquidity of the position. Only between 15:00 and 16:00 $ 223 million short; $ 3.04 billion long the position has been liquidated.
The value of positions that are liquidated after 16:00 is already 1 billion dollars above the level.
In total within a 24-hour period 8.1 billion dollars worth position was liquidity. Long positions accounted for 89% of all. In total according to Bybt data More than 730,000 The crypto trader’s position has been affected.
According to CryptoQuant data Bitcoin in particular 10,525 in just 1 hour long position was liquidated. According to the same data, a record number of BTC longs have become liquidity today.
Transactions on some stock exchanges started to stall
During the decline in the cryptocurrency market, there were difficulties accessing some exchanges such as Coinbase. At the same time, Binance was made with Ethereum and ERC-20 tokens “due to network congestion”. withdraw money has decided to stop its operations.
Larry Cermak from The Block team, the market decline “It may have blown up some fund and market makers” thinks.